Bitmine Immersion Technologies (NYSE: BMNR) shares rose more than 6% Monday after the company disclosed that its Ethereum treasury had grown to 5.98 million ETH, reinforcing the scale of its digital-asset holdings.
According to data from Yahoo Finance (on September 21 at 18:00 UTC), BMNR traded at $27.66, up $1.67, or 6.43%, after opening at $27.56. The stock traded between $27.08 and $28.06 during the session, based on the market data provided.
Bitmine said its Ethereum (ETH) holdings totaled 5,983,940 ETH as of 9 p.m. ET on September 20. At the company’s stated valuation of $2,688 per ETH, the position was worth about $16.1 billion. The holdings represented roughly 4.9% of Ethereum’s 122.1 million-token supply.
Bitmine adds 27,562 ETH
Bitmine acquired 27,562 ETH over the past week, taking its holdings above the 5.98 million-token mark, according to its disclosure.
The latest purchase follows a series of weekly additions to the company’s Ethereum treasury since it launched the strategy in June 2025. Bitmine’s investor-relations page shows its reported ETH holdings rising from 5.85 million on Aug. 24 to 5.90 million on Aug. 31, 5.93 million on Sept. 8 and 5.96 million on Sept. 14.
The company also held 212 Bitcoin as of Sept. 20.
Bitmine said its crypto assets, cash and marketable securities, and other investments totaled $17.1 billion as of Sept. 20. The figure included $714 million in cash and marketable securities, along with a $180 million stake in Beast Industries and a $105 million stake in Eightco Holdings. The company classified the two equity positions as “moonshots” in its disclosure.
More than 5 million ETH staked
Bitmine also reported that 5,067,309 ETH was staked as of Sept. 20, equivalent to about 85% of its Ethereum holdings. The company valued the staked ETH at roughly $13.6 billion using an ETH price of $2,688. Bitmine said its own staking operations generated a 7-day yield of 2.62% on an annualized basis.
Bitmine Chairman Thomas Lee said the company estimates annualized staking revenue of about $357 million at the reported level of staking and yield. That figure is a company projection rather than realized revenue.
ETH rises alongside BMNR
According to data from CoinGecko (on September 21 at 18:00 UTC), Ethereum was trading at $2,741.73, up 4.4% over 24 hours. ETH traded between $2,612.23 and $2,766.74 during the period.
At that price, Bitmine’s 5.98 million ETH holdings would be worth roughly $16.4 billion, although the company’s Sept. 20 disclosure used a $2,688 ETH reference price.
BMNR closed at $25.99 on Sept. 18, according to historical market data, before rising above $27 during Monday’s session.
The latest move comes as investors continue to track publicly traded companies that hold cryptocurrency as a significant portion of their assets, with Bitmine’s strategy focused primarily on accumulating and staking Ethereum.
Also Read: Crypto Liquidations Hit $795M as Bitcoin Surges 5.7% to $85K
